Summary
Analog Devices, Inc. (ADI) has voluntarily withdrawn its pre-merger notification under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act for its proposed acquisition of Maxim Integrated Products, Inc. (Maxim). This action was taken to allow the Federal Trade Commission (FTC) additional time for review. ADI plans to refile its HSR notification on August 26, 2020, which will initiate a new 30-day waiting period. While this withdrawal and refiling is a standard procedural step to facilitate deeper antitrust scrutiny, it introduces a slight procedural delay in the regulatory approval process. Both companies are actively cooperating with the FTC. The expected closing date for the transaction remains summer 2021, subject to customary closing conditions. Investors should monitor ongoing regulatory reviews and statements from ADI and Maxim for any further developments.
Key Highlights
- 1ADI voluntarily withdrew HSR pre-merger notification for Maxim acquisition to allow extended FTC review.
- 2ADI plans to refile HSR notification on August 26, 2020, triggering a new 30-day waiting period.
- 3Withdrawal and refiling is a standard procedure for transactions requiring in-depth antitrust review.
- 4Both ADI and Maxim are cooperating with the FTC.
- 5The expected closing date for the acquisition remains summer 2021, subject to closing conditions.
- 6The filing includes extensive "forward-looking statements" and risk factors associated with the transaction and broader economic conditions.